Cairo – Mubasher: UK fashion retailer Matalan is looking to invest GBP 25 million in Egypt, Alyson King, a UK government spokeswoman for MENA, said in a tweet.

The British retailer aims to launch 20 outlets in the most populous Arab nation over the coming five years, the UK embassy in Cairo revealed.

In addition, GlaxoSmithKline Consumer Healthcare also plans to invest GBP 5 million to upgrade two of the company’s production lines in Egypt.

It is noteworthy that during the UK-Africa Investment Summit held in London on 20 January, British companies inked agreements worth GBP 6.5 billion in various sectors, including the energy sector.

Source: Mubasher

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